L.B. Foster Appoints James P. Maloney CFO

8/24/17

James P. Maloney

PITTSBURGH, Pa., Aug. 24, 2017 (GLOBE NEWSWIRE) -- Pittsburgh, PA-based L.B. Foster Company (NASDAQ:FSTR) is pleased to announce that James P. Maloney will become L.B. Foster’s Senior Vice President, Chief Financial Officer, and Treasurer, joining the Company effective September 18, 2017. Reporting to L.B. Foster President & CEO, Robert P. Bauer, and based in the Company's headquarters in Pittsburgh, Mr. Maloney will oversee the global finance and accounting organization, as well as the investor relations functions.

“I am very pleased that Jim has decided to join the management team," said Robert P. Bauer, President and Chief Executive Officer. "He brings to the position of Chief Financial Officer valuable experience and leadership qualities developed during a successful career. From the time he took challenging assignments with Ernst & Young, through his assignments at H.J. Heinz and First Insight, he has gained the respect of his peers in the financial community and has become a trusted advisor to the operating people. I look forward to the contribution Jim will make toward L.B. Foster's strategic plans, and the steps we take to drive value for our shareholders.”

Maloney joins L.B. Foster from First Insight, Inc., where he served as Chief Financial Officer at the privately-held Company providing consumer data to leading global retailers and brands. As CFO, he led efforts to raise capital for funding growth while creating strategies for measuring financial performance by market segment. Prior to First Insight, he served as Vice President – Global Financial Planning and Supply Chain Finance at H.J. Heinz Company, where he managed strategic and annual operating plans, the capital expenditure and return on investment process; developed restructuring programs; and was responsible for strategic supply chain decisions and commodity-hedging strategies. During his career with H.J. Heinz, he also served as controller for the North American operations where he oversaw general and financial accounting for the consumer products segment. Prior to joining the Heinz North America team, he spent more than 10 years with Ernst & Young on various assignments in the U.S. and Europe.

Mr. Maloney holds a Master of Business Administration degree from the University of Pittsburgh and a Bachelor of Science degree from Clarion University. He is a Certified Public Accountant.

About L.B. Foster Company

Established in 1902, L.B. Foster Company (NASDAQ:FSTR) is a leading manufacturer, fabricator, and distributor of products and services for the rail, construction, energy, and utility markets with locations in North America and Europe. L.B. Foster is headquartered in Pittsburgh, Pennsylvania and has been publicly traded since 1981. More information is available at: www.lbfoster.com.